Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 211. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on December 7, 2019
As part of the Bitcoin Cash forecast, a test of level 218 is expected. Where can we expect an attempt to continue the fall of BCH /USD and the further development of a downward trend. The purpose of this movement is the area near the level of 190. The conservative area for sales of Bitcoin Cash is located near the upper border of the Bollinger Bands indicator strip at the level of 220.
Cancellation of the option to continue the depreciation of Bitcoin Cash will be a breakdown of the area of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 228. This will indicate a change in the current trend in favor of the bullish for BCH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on December 7, 2019 implies a test level of 218. Further, it is expected to continue falling to the area below the level of 185. The conservative area for selling Bitcoin Cash is located area of 220. Canceling the option of falling cryptocurrency will be a breakdown of the level of 228. In this case, we can expect continuation growth.
